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Conversion of non cum non conver pref shares into equity shares

(Querist) 30 August 2014 This query is : Resolved 
A is a pvt ltd co who has issued Non cum Non convertible Pref shares .The said Pref shares are due for redemption as the 20 years period is coming to and end in Nov'14. The co is unable to redeem but Pref shareholders are wiling to convert the same into equity shares by giving up all their rights title and interest both past, present and future. What procedure co has to follow?
T. Kalaiselvan, Advocate (Expert) 30 August 2014
The company has to follow the rules set out in this regardby SEBI. Contact your financial adviser for further clarifications on the subject.
Simi Salooja (Expert) 31 August 2014
You can also connect to a CS. They can help you. Let mi know if you need one.


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